The resolution proposes an amendment to the West Virginia Constitution, specifically Article X, to increase the homestead exemption from the first $20,000 to the first $50,000 of assessed valuation for certain properties. This exemption would apply to real property or mobile homes used exclusively for residential purposes and occupied by owners who are either 65 years of age or older or permanently and totally disabled. Additionally, the Legislature would have the authority to provide a similar exemption for homeowners under 65 years of age, with specific conditions and a phased implementation over a period not exceeding five years.

The proposed amendment, designated as "Amendment No. 1" and titled the "Homestead Exemption Increase Amendment," aims to provide property tax relief to eligible citizens, including tenants of residential or farm properties. The resolution mandates that the question of ratification or rejection of this amendment be presented to voters during the general election in 2026, ensuring that the public has a say in this significant change to property tax policy in West Virginia.